Common-Size Balance Sheet: Assets
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
- Cash and Cash Equivalents
 - The proportion of cash and cash equivalents relative to total assets exhibited a consistent downward trend from 12.61% in 2015 to 2.22% in 2019, indicating a substantial reduction in readily available liquid assets over the period analyzed.
 - Marketable Securities
 - Marketable securities were negligible or unreported for most years, with a very small presence at 0.5% in 2017 and 0.07% in 2018, before disappearing from the records, suggesting a minimal role in asset composition.
 - Accounts and Notes Receivable, Trade
 - This category remained relatively stable from 2015 to 2018, fluctuating slightly around 6%, but showed a notable decrease to 4.33% in 2019, signaling a reduction in trade receivables as a percentage of total assets.
 - Accounts and Notes Receivable, Other
 - There was a marked decline in other accounts and notes receivable, falling from 5.54% in 2015 to 1.15% in 2019, reflecting a consistent reduction in non-trade receivables over the timeframe.
 - Total Accounts and Notes Receivable
 - Combined receivables as a percentage of total assets decreased significantly, from 11.53% in 2015 to 5.48% in 2019, which aligns with the trends observed in both trade and other receivables.
 - Inventories
 - Inventory levels relative to total assets diminished steadily, declining from 10.1% in 2015 to 6.22% in 2019, which might reflect inventory management improvements or changes in operational scale or strategy.
 - Deferred Income Tax Assets, Current
 - Reported only in 2015 at 1.22%, with no subsequent data, suggesting either a reduction to immaterial levels or reclassification in the balance sheet.
 - Other Current Assets
 - Other current assets increased slightly from 0.52% in 2015 to a peak of 1.08% in 2018, before declining to 0.49% in 2019, indicating moderate variability without a clear directional trend.
 - Current Assets
 - The aggregate current assets saw a pronounced decrease from 35.98% of total assets in 2015 to 14.41% in 2019, pointing to a strategic shift or asset reallocation away from current assets over the years.
 - Investment in Nonconsolidated Affiliates
 - This investment category shrank from 5.82% in 2015 to 1.73% in 2019, indicating a gradual divestment or reduction in stakes held in nonconsolidated affiliates.
 - Other Investments
 - Other investments decreased sharply from 4.3% in 2015 to a negligible 0.03% in 2019, demonstrating a significant decrease or possible liquidation of noncore investment holdings.
 - Noncurrent Receivables
 - Noncurrent receivables diminished considerably from 1.2% in 2015 to 0.05% in 2019, suggesting either collections or write-offs of long-term receivables.
 - Total Investments
 - Overall investments as a percentage of total assets dropped from 11.31% to 1.82%, evidencing a strategic reduction in investment positions or asset reallocation.
 - Property, Plant and Equipment, Net
 - This asset category experienced a decrease from 26.25% in 2015, peaking at 29.54% in 2016, then falling sharply to 14.62% by 2019, indicating possible asset sales, depreciation, or a shift toward less capital-intensive operations.
 - Goodwill
 - Goodwill increased substantially from 17.87% in 2015 to an elevated 47.77% in 2019, highlighting significant acquisitions or revaluations that have contributed to growth in intangible asset recognition.
 - Other Intangible Assets
 - Other intangible assets also grew consistently, from 5.32% in 2015 to 19.59% in 2019, supporting the observation of increasing intangible asset prominence in the asset structure.
 - Deferred Income Tax Assets, Noncurrent
 - These assets displayed variability, rising from 2.49% in 2015 to a peak of 3.87% in 2016, followed by a decline to 0.34% in 2019, suggesting changes in deferred tax positions over time.
 - Deferred Charges and Other Assets
 - The proportion of deferred charges and other assets remained relatively stable with minor fluctuations, ending slightly higher at 1.46% in 2019 compared to 0.79% in 2015.
 - Other Assets
 - Other assets exhibited a pronounced increase from 26.46% in 2015 to 69.16% in 2019, signifying a major shift or reclassification in noncurrent assets and reflecting changing asset composition.
 - Noncurrent Assets
 - Noncurrent assets as a whole increased steadily from 64.02% in 2015 to 85.59% in 2019, indicating a strategic focus on long-term investments and reduced reliance on current assets.
 - Total Assets
 - The total assets remained constant at 100% each year by definition, serving as a baseline for the relative analysis of asset categories.